Published on : Monday, February 27, 2017
Tourism Committee for Northern Malawi said that a special financial facility needs to be set up where tourism service providers could access loans at reasonable interest, and this would help them develop their tourism facilities to global standards. Majority of owners of tourism facilities in the region fail to develop their facilities to required standards for attracting tourists.
Of those tourism facility owners who have the determination of developing their facilities, high bank interest rates remain a big deterrent in doing so. According to the Chairperson of the committee, Malidadi Kapusa Mkandawire, “Government and stakeholders in the tourism sector should consider setting up a special revolving fund that tourism service providers could access at a reasonable interest rate, and then we can have better facilities. In this way, security of the money borrowed would be guaranteed because it would be invested into physical structures.”
Mkandawire also requested that all materials and items related to tourism development should have a tax waiver. This would simplify efforts directed towards development of the tourism industry. For Malawi, tourism industry is a huge and promising replacement of the dwindling tobacco-growing industry with great potential for foreign exchange earner. Mkandawire also said that most tourism facilities have poor road infrastructure and are not accessible for the physically challenged.
Tags: Malawi Tourism